France Electric Vehicles Market Size
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2021 - 2022 |
| CAGR (2024 - 2029) | > 12.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
France Electric Vehicles Market Analysis
The France Electric Vehicles Market is expected to register a CAGR of greater than 12% during the forecast period.
The market was negatively impacted by COVID-19 in 2020. Presently, the market has reached pre-pandemic levels.
- In the long term, government initiatives to create awareness and promote the use of electric vehicles are expected to drive the market studied during the forecast period.
- However, the global shortage of semiconductors is expected to hinder the France electric vehicle market during the forecast period.
- Technological advancement in battery and the application of cutting-edge technologies, like Advance Driver Assistant Systems, Artificial Intelligence, and the Internet of things. This will create an opportunity for market players in the forecast period.
France Electric Vehicles Market Trends
Battery Electric Vehicles Segment to have a Significant Share in the Market Studied
- Battery Electric Vehicles have an electric motor and use a large traction battery pack to power the electric motor. BEV is plugged into a wall outlet or charging equipment such as electric vehicle supply equipment. BEVs are fully electric vehicles and do not have a fuel tank, internal combustion engine, or exhaust engine, and they depend upon electricity for propulsion.
- According to the International energy agency, BEV sales in France increased from 190 in 2010 to 170,000 in 2021. At the same time, PHEV sales increased from 96 in 2011 to 140,000 in 2021. Furthermore, the government aims to reach 1.85 million by 2028 and achieve carbon emission programs by 2050.
- Lithium-ion batteries are used in battery electric vehicles for both passenger and commercial cars. Lithium-ion is a rechargeable battery and has a higher density, which is the most preferred battery for EVs. The demand for lithium-ion batteries has been increasing owing to the increase in the sale of electric vehicles in France. Further, it will lead to a rise in sales of electric vehicles during the forecast period.
- Moreover, in October 2022, Imerys, a French company, launched an EMILI (Exploitation de MIca Lithinif猫re par Imerys) project to mine lithium at the Beauvoir site in central France. The company is targeting the production of 34,000 metric tons of lithium hydroxide every year from 2028. Thus, the company will produce nearly 700,000 electric vehicle batteries per year. This will reduce the import of lithium batteries from other countries.
- Hence, owing to the above points, the Battery electric vehicles are expected to dominate the market during the forecast period.
Government Initiatives to Drive the Market
- The French government has banned the sales of Internal combustion engines by 2040 to promote a carbon emission program. European Union has set a target of 30 million zero-emission vehicles by the end of 2035.
- The automotive sector in France is the second largest country in Europe. The French government has invested EUR 30 billion (around USD 27.9 billion) in 2021 and will provide up to EUR 4 billion (around USD 3.72 billion) to support the automotive industry to produce 2 million EVs by 2030.
- In 2021, total electric car registration was approximately 174,191, up from 119,737 in 2020. This represents an increase of around 45%. The factor behind abrupt growth is the French government offering subsidies of EUR 6000 (around USD 5580) for purchasing EV prices under EUR 47000 (around USD 4371), which includes both BEV and PHEV in 2021. Moreover, in 2022, the French government increased its subsidies from EUR 6000 (around USD 5880) to EUR 7000 (USD 6860).
- In October 2022, the French government announced funding of EUR 1.3 billion (around USD 1.27 billion) for an electric car; it will include a leasing scheme through which 100,000 vehicles would be made available for long-term hire at EUR 100 per month (approximately USD 98).
- Hence, owing to the above points, government initiatives to see significant growth in the Electric vehicles market during the forecast period.
France Electric Vehicles Industry Overview
The France Electric vehicles market is moderately fragmented. Some of the key players in this market (in no particular order) include Tesla Inc, Mercedes-Benz Group AG, Citroen International, Volkswagen AG, and Bayerische Motoren Werke AG.
France Electric Vehicles Market Leaders
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Tesla Inc
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Mercedes-Benz Group AG
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CITRO脣N International
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Volkswagen AG
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Bayerische Motoren Werke AG
*Disclaimer: Major Players sorted in no particular order
France Electric Vehicles Market News
- September 2022- Uber partnered with Stellantis and Free2Move to focus on the French electric vehicles market. The company will support Uber's plans to convert 50% of its fleet to electric vehicles by 2030.
- March 2022- Eramet made a joint agreement with Suez to develop a recycling facility for electric vehicle batteries by 2024.
France Electric Vehicles Market Report - Table of Contents
1. INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
2. EXECUTIVE SUMMARY
3. RESEARCH METHODOLOGY
4. MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in USD Billion Till 2027
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.2 Restraints
4.6 Supply Chain Analysis
4.7 PESTLE Analysis
5. MARKET SEGMENTATION
5.1 By Propulsion Type
5.1.1 Battery Electric Vehicles
5.1.2 Plug-in Hybrid Electric Vehicles
5.1.3 Other Propulsion Types
5.2 By Vehicle Type
5.2.1 Passenger Cars
5.2.2 Commercial Vehicles
5.3 By Charging Type
5.3.1 Normal Charging
5.3.2 Fast Charging
6. COMPETITIVE LANDSCAPE
6.1 Mergers, Acquisitions, Collaboration and Joint Ventures
6.2 Strategies Adopted by Key Players
6.3 Company Profiles
6.3.1 Tesla Inc
6.3.2 Mercedes-Benz Group AG
6.3.3 Volkswagen AG
6.3.4 Hyundai Motor Company
6.3.5 Citroen International
6.3.6 Bayerische Motoren Werke AG
6.3.7 Volkswagen AG
6.3.8 Renault Group
6.3.9 Kia Corporation
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
France Electric Vehicles Industry Segmentation
Electric vehicles operate on electric motor that is powered by electricity.
The Electric Vehicle Market is Segmented by Propulsion Type (Battery Electric Vehicles, Plug-in Hybrid Electric Vehicles, and Other Propulsion Types), Vehicle Type (Passenger Cars and Commercial Vehicles), and Charging Type (Normal Charging and Fast Charging). The report offers the market size and forecasts in Value (USD billion) and Volume (in units) for all the above segments. The report also covers the market size and forecasts for the Electric vehicles market across the country.
| By Propulsion Type | |
| Battery Electric Vehicles | |
| Plug-in Hybrid Electric Vehicles | |
| Other Propulsion Types |
| By Vehicle Type | |
| Passenger Cars | |
| Commercial Vehicles |
| By Charging Type | |
| Normal Charging | |
| Fast Charging |
France Electric Vehicles Market Research FAQs
What is the current France Electric Vehicles Market size?
The France Electric Vehicles Market is projected to register a CAGR of greater than 12% during the forecast period (2024-2029)
Who are the key players in France Electric Vehicles Market?
Tesla Inc, Mercedes-Benz Group AG, CITRO脣N International, Volkswagen AG and Bayerische Motoren Werke AG are the major companies operating in the France Electric Vehicles Market.
What years does this France Electric Vehicles Market cover?
The report covers the France Electric Vehicles Market historical market size for years: 2021, 2022 and 2023. The report also forecasts the France Electric Vehicles Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
France Electric Vehicles Industry Report
Statistics for the 2024 France Electric Vehicles market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. France Electric Vehicles analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
